Alantra hires de Rugy, Fernandez-Cuesta for new Energy Transition Group

Alantra Partners

14/02/2023 11:30

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      Hires former French politician Francois de Rugy
    

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      Also ex-Spanish energy secretary Nemesio Fernandez-Cuesta
    

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      Firm has more than 65 staff working across sustainability
    

  
    By Isla Binnie and Simon Jessop
       LONDON, Feb 14 (Reuters) - Spanish financial company
Alantra  ALNTA.MC  said it has hired former French energy
transition minister Francois de Rugy and former Spanish
Secretary of State for Energy Nemesio Fernandez-Cuesta to
co-chair a new Energy Transition Group.
    The new unit will provide advice on dealmaking, equity and
debt issuance, and decarbonising companies' business operations,
as well as help in investing in clean energy technology and
renewable energy infrastructure projects.
    De Rugy was France's environment minister from 2018 until
2019, while Fernandez-Cuesta was Spanish Secretary of State for
Energy from 1996 to 1998. He also spent more than 20 years at
energy group Repsol  REP.MC .
    The move is the latest by an investment firm or bank to
reshape their operations in response to the global shift to a
low-carbon economy, as billions of dollars flow to projects that
help to cut planet-warming emissions.
    To meet a goal of limiting global warming to 1.5 degrees
Celsius, Alantra cited an International Energy Agency estimate
that investment of $5.7 trillion would be needed, including $171
billion in France, Italy and Spain.    
    "We consider the energy transition and decarbonisation of
the global economy as a clear value creation factor,"
Fernandez-Cuesta said in a statement, helping clients "both to
realise efficiencies and generate sustainable new business
opportunities". 
    Alantra launched a renewable energy investment platform
alongside asset managers Amundi  AMUN.PA  and Reichmuth last
month, and plans to use it to raise 1.7 billion euros ($1.83
billion) to invest in solar generation in Italy and Spain.
    With more than 65 staff focused on the energy transition
across its business, Alantra said it had completed around 70
related deals over the last five years.
    ($1 = 0.9295 euros)
 (Reporting by Simon Jessop; editing by Jason Neely)
 ((simon.jessop@thomsonreuters.com; +44 (0) 207 542 5052;
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